The United States has fallen to its lowest-ever ranking in the annual Economic Freedom Index, published by The Heritage Foundation, as the country struggles to rein in debt and budget deficits.
Overall, the world economy remains “moderately free,” according to the 2022 report (pdf), but the situation in the United States is worrying: “Quite notable is the continuing decline in the ‘mostly free’ category of the United States, which plummeted to 25th place, its lowest ranking ever in the 28-year history of the Index. The major causative factor in the erosion of America’s economic freedom is excessive government spending, which has resulted in mounting deficit and debt burdens.”
